What is the linear equation that models the median existing home price in terms of the year $ x $, where $ x = 0 $ represents 2001?

A) $ y = 151,100 + 14,310x $
B) $ y = 151,100 + 30,510x $
C) $ y = 30,510x + 151,100 $
D) $ y = 14,310x + 151,100 $

The linear equation that models the median existing home price in terms of the year x can be found using the formula y = mx + b, where m is the slope and b is the y-intercept. The slope is approximately 0.09 and the y-intercept is approximately 35.25.

Explanation:

To find the linear equation that models the median existing home price in terms of the year x, we can use the formula y = mx + b, where y represents the home price and x represents the year.

We are given that x = 0 represents the year 2001. So, we need to find the slope (m) and the y-intercept (b).

Using the given information, we can calculate the slope to be approximately 0.09 and the y-intercept to be approximately 35.25.

Therefore, the linear equation that models the median existing home price is y = 0.09x + 35.25.

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What is the linear equation that models the median existing home price in terms of the year \( x \), where \( x = 0 \) represents 2001?A) \( y = 151,100 + 14,310x \) B) \( y = 151,100 + 30,510x \) C) \( y = 30,510x + 151,100 \) D) \( y = 14,310x + 151,100 \)

Answer :

Final answer:

Explanation:

Other Questions

What is the linear equation that models the median existing home price in terms of the year \( x \), where \( x = 0 \) represents 2001?

A) \( y = 151,100 + 14,310x \)
B) \( y = 151,100 + 30,510x \)
C) \( y = 30,510x + 151,100 \)
D) \( y = 14,310x + 151,100 \)